Banks to enable all accounts with netbanking by March: Ravi Shankar Prasad


NEW DELHI: On Tuesday, an internal review meeting was conducted in the ministry where presentations on digital banking were given to union minister for electronics and IT, Ravi Shankar Prasad.

According to an official in the know, in the meeting it has been decided that all banks will be given instructions that all accounts have to be net banking enabled by March 31 . Currently, there are 30-35% of accounts in which customers have opted not to enable netbanking.

“Banks are being instructed to persuade people to enable netbanking,” the official told ET. The official added that a person who has downloaded BHIM app and wants to transact but doesn’t have netbanking facility will be allowed to conduct the transaction by the bankers if the person’s telephone number is authenticated in the system.

One of the highlights of the meeting was that the success rate of Bharat Interface for Mobile (BHIM), which was launched by the prime minister Narendra Modi in December, has been high. So far, there have been almost 1.72-crore downloads and financial transactions to the tune of Rs 958 crore since it was launched. In February alone, Rs 595 crore worth of transaction was done through BHIM.

The minister will also take a meeting with all bankers to sort out all the issues on this front in the second week of March, the official who is aware of the discussions said. Government’s drive towards electronic transactions gathered pace after the demonetisation exercise announced on November 8.